Tether, the company behind the largest stablecoin by market cap, has recently achieved a significant regulatory milestone. In an exciting announcement, Tether revealed that its USDT token has been recognized as an Accepted Virtual Asset (AVA) by the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).
Paolo Ardoino, the CEO of Tether, expressed his pride in this achievement, stating, “This milestone underscores Tether’s commitment to fostering global financial inclusion and innovation. By bringing USDT to the forefront of ADGM’s regulated virtual asset framework, we are not only validating the importance of stablecoins as critical tools for modern finance but also opening new doors for collaboration and growth across the Middle East. The UAE’s forward-thinking approach to virtual asset regulation sets a global benchmark, and we are proud that USDT can play a pivotal role in driving economic progress and digital transformation in the region. This approval highlights Tether’s dedication to building bridges between traditional and decentralized economies while ensuring security, trust, and efficiency for users worldwide.”
As an AVA in the region, USDT will now be able to be used by ADGM businesses to offer services such as trading and storage. This approval is expected to facilitate the seamless integration of USDT into the UAE’s financial landscape, paving the way for future developments.
This regulatory milestone not only solidifies Tether’s position in the global financial market but also highlights the growing importance of stablecoins in modern finance. The recognition of USDT by the ADGM is a testament to the company’s commitment to compliance and transparency, ensuring the security and efficiency of its users globally.
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